Key Takeaways
- • Militia Capital Management disclosed a 31,820-share position in the Bitwise XRP ETF through an amended 13F SEC filing, signaling institutional participation in regulated XRP exposure vehicles.
- • The Bitwise XRP ETF (ticker: XRP) launched on NYSE on November 20, 2025, with a management fee of 0.34% (waived for the first month), capturing significant institutional inflows as part of a broader altcoin ETF adoption wave.
- • Institutional adoption of XRP ETFs is accelerating, with Bitwise's XRP product recording $243 million in assets under management and leading the XRP ETF category, while competitors captured $293 million in weekly inflows across similar products.
- • Current assets under management in the Bitwise XRP ETF have contracted to under $1 billion against $1.51 billion in cumulative inflows, indicating net redemptions or market-driven asset value fluctuations despite continued institutional interest signaled by new 13F filings.
- • The XRP ecosystem is positioning itself for institutional adoption around cross-border payments and tokenized real-world assets, leveraging the XRP Ledger's 13-year operational track record to attract regulated capital.
Summary
Militia Capital Management has joined a growing roster of institutional investors gaining regulated exposure to XRP through the Bitwise XRP ETF, disclosing a position of 31,820 shares in an amended 13F filing with the SEC. This disclosure underscores accelerating institutional participation in cryptocurrency assets following the November 20, 2025 launch of the Bitwise XRP ETF on the NYSE.
The Bitwise XRP ETF, trading under the ticker XRP, entered the market with a competitive 0.34% management fee structure, with the sponsor waiving fees for the initial one-month period. The product has recorded $243 million in assets under management, positioning Bitwise as the dominant player in the XRP ETF category. This launch occurred amid a broader stampede of institutional capital into altcoin-focused exchange-traded products, with the sector capturing substantial inflows. Competing products recorded $293 million in weekly inflows during the same period, while Solana-focused ETFs accumulated $420.4 million in net inflows, establishing themselves as the leading non-Bitcoin, non-Ethereum ETF adoption vehicle.
Despite robust institutional interest signaled by new 13F disclosures and ongoing capital flows, the Bitwise XRP ETF's asset base has contracted to under $1 billion against cumulative inflows of $1.51 billion, reflecting either net redemptions or market-driven valuation changes. Additional institutional positions have emerged, with Vista Finance disclosing an $11.45 million XRP ETF allocation, further validating the growing institutional embrace of regulated XRP exposure.
The institutional shift toward XRP represents a strategic bet on the XRP Ledger's infrastructure for modernizing institutional payments and markets. With a 13-year operational history, the ledger targets use cases spanning cross-border payments and tokenized real-world assets—categories increasingly viewed as material opportunities within institutional portfolios. Leadership at Bitwise has publicly highlighted the strength of inflows into the XRP product, reflecting confidence in both the asset and the regulatory clarity provided by an ETF structure.
The Bitwise XRP ETF, trading under the ticker XRP, entered the market with a competitive 0.34% management fee structure, with the sponsor waiving fees for the initial one-month period. The product has recorded $243 million in assets under management, positioning Bitwise as the dominant player in the XRP ETF category. This launch occurred amid a broader stampede of institutional capital into altcoin-focused exchange-traded products, with the sector capturing substantial inflows. Competing products recorded $293 million in weekly inflows during the same period, while Solana-focused ETFs accumulated $420.4 million in net inflows, establishing themselves as the leading non-Bitcoin, non-Ethereum ETF adoption vehicle.
Despite robust institutional interest signaled by new 13F disclosures and ongoing capital flows, the Bitwise XRP ETF's asset base has contracted to under $1 billion against cumulative inflows of $1.51 billion, reflecting either net redemptions or market-driven valuation changes. Additional institutional positions have emerged, with Vista Finance disclosing an $11.45 million XRP ETF allocation, further validating the growing institutional embrace of regulated XRP exposure.
The institutional shift toward XRP represents a strategic bet on the XRP Ledger's infrastructure for modernizing institutional payments and markets. With a 13-year operational history, the ledger targets use cases spanning cross-border payments and tokenized real-world assets—categories increasingly viewed as material opportunities within institutional portfolios. Leadership at Bitwise has publicly highlighted the strength of inflows into the XRP product, reflecting confidence in both the asset and the regulatory clarity provided by an ETF structure.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.